12 Guam Code Ann. § 4213
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Terms Used In 12 Guam Code Ann. § 4213
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(a) An applicant who is unable to qualify for a mortgage loan with at least three (3) commercial lenders under the program set out in this Article is eligible for a GHC loan under
4103(c) of this Title and may qualify for an Interest Free Loan under this Article; provided, such applicant falls within the income guidelines of this Article.
4103(c) of this Title and may qualify for an Interest Free Loan under this Article; provided, such applicant falls within the income guidelines of this Article.
(b) The Interest Free Loan levels in Schedules I, II and III of § 4207 shall correspond with the prevailing GHC rate and not the index rate as is the case with qualified Financial Institutions.